NUV vs. FASEX

Last updated Jun 4, 2026

NUV (Nuveen Municipal Value Fund Inc.) and FASEX (Nuveen Mid Cap Value Fund) are both mutual funds - NUV is a Municipal Bonds fund actively managed by Nuveen, while FASEX is a Mid Cap Value Equities fund managed by Nuveen. Over the past 10 years, NUV returned 2.43%/yr vs 10.97%/yr for FASEX. At a 0.09 correlation, their price movements are largely independent. NUV charges 0.52%/yr vs 1.16%/yr for FASEX.

Performance

NUV vs. FASEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Municipal Value Fund Inc. (NUV) and Nuveen Mid Cap Value Fund (FASEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUV achieves a 1.79% return, which is significantly lower than FASEX's 17.58% return. Over the past 10 years, NUV has underperformed FASEX with an annualized return of 2.43%, while FASEX has yielded a comparatively higher 10.97% annualized return.

NUV

• 1D: -0.55%
• 1M: 0.25%
• YTD: 1.79%
• 6M: 1.60%
• 1Y: 10.54%
• 3Y*: 5.20%
• 5Y*: -0.87%
• 10Y*: 2.43%

FASEX

• 1D: 1.68%
• 1M: 3.56%
• YTD: 17.58%
• 6M: 17.64%
• 1Y: 30.46%
• 3Y*: 16.66%
• 5Y*: 9.31%
• 10Y*: 10.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NUV vs. FASEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUV Nuveen Municipal Value Fund Inc.	1.79%	10.27%	4.04%	3.99%	-14.03%	-3.51%	7.50%	19.75%	-4.83%	10.33%
FASEX Nuveen Mid Cap Value Fund	17.58%	9.68%	10.40%	14.20%	-10.63%	34.84%	1.19%	26.68%	-13.00%	19.23%

Correlation

The correlation between NUV and FASEX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 23, 1987	0.09

The correlation between NUV and FASEX shifts across timeframes, from 0.09 (all time) to 0.30 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NUV vs. FASEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NUV

NUV Risk / Return Rank: 36
NUV Sharpe Ratio Rank: 28
NUV Sortino Ratio Rank: 29
NUV Omega Ratio Rank: 28
NUV Calmar Ratio Rank: 44
NUV Martin Ratio Rank: 53

FASEX

FASEX Risk / Return Rank: 70
FASEX Sharpe Ratio Rank: 63
FASEX Sortino Ratio Rank: 62
FASEX Omega Ratio Rank: 53
FASEX Calmar Ratio Rank: 88
FASEX Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NUV vs. FASEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Municipal Value Fund Inc. (NUV) and Nuveen Mid Cap Value Fund (FASEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NUV	FASEX	Difference
Sharpe ratio Return per unit of total volatility	1.51	2.33	-0.82
Sortino ratio Return per unit of downside risk	2.23	3.30	-1.06
Omega ratio Gain probability vs. loss probability	1.28	1.40	-0.13
Calmar ratio Return relative to maximum drawdown	2.52	4.35	-1.83
Martin ratio Return relative to average drawdown	10.75	15.87	-5.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUV vs. FASEX - Sharpe Ratio Comparison

The current NUV Sharpe Ratio is 1.51, which is lower than the FASEX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of NUV and FASEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NUV	FASEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.33	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.52	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.54	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.52	-0.24

Drawdowns

NUV vs. FASEX - Drawdown Comparison

The maximum NUV drawdown since its inception was -35.42%, smaller than the maximum FASEX drawdown of -55.57%. Use the drawdown chart below to compare losses from any high point for NUV and FASEX.

Drawdown Indicators

	NUV	FASEX	Difference
Max Drawdown Largest peak-to-trough decline	-35.42%	-55.57%	+20.15%
Max Drawdown (1Y) Largest decline over 1 year	-4.20%	-7.37%	+3.17%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-22.26%	+13.02%
Max Drawdown (5Y) Largest decline over 5 years	-28.29%	-22.26%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	-28.29%	-44.56%	+16.27%
Current Drawdown Current decline from peak	-7.86%	0.00%	-7.86%
Average Drawdown Average peak-to-trough decline	-8.99%	-8.93%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	2.01%	-1.03%

Volatility

NUV vs. FASEX - Volatility Comparison

The current volatility for Nuveen Municipal Value Fund Inc. (NUV) is 2.56%, while Nuveen Mid Cap Value Fund (FASEX) has a volatility of 4.26%. This indicates that NUV experiences smaller price fluctuations and is considered to be less risky than FASEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUV	FASEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	4.26%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	5.17%	10.24%	-5.07%
Volatility (1Y) Calculated over the trailing 1-year period	6.99%	13.76%	-6.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	18.07%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.34%	20.21%	-9.87%

NUV vs. FASEX - Expense Ratio Comparison

NUV has a 0.52% expense ratio, which is lower than FASEX's 1.16% expense ratio.

Dividends

NUV vs. FASEX - Dividend Comparison

NUV's dividend yield for the trailing twelve months is around 4.30%, less than FASEX's 12.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASEX Nuveen Mid Cap Value Fund	12.48%	14.67%	5.29%	3.12%	6.32%	4.02%	1.06%	0.89%	4.48%	7.93%	3.67%	3.49%
NUV Nuveen Municipal Value Fund Inc.	4.30%	4.30%	4.16%	3.94%	3.91%	3.41%	3.35%	3.48%	4.01%	3.99%	4.10%	3.95%

Frequently Asked Questions

Can I hold both NUV and FASEX in my portfolio?

NUV and FASEX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUV or FASEX?

FASEX has higher volatility (4.26%) compared to NUV (2.56%). In terms of maximum drawdown, NUV dropped -35.42% vs FASEX's -55.57%.

Which has better risk-adjusted returns?

FASEX currently has the higher Sharpe Ratio (2.33 vs 1.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.